TORONTO, March 21, 2018 (GLOBE NEWSWIRE) — Aguia Resources Limited (“Aguia” or the “Company”) (TSX VENTURE:AGRL) (ASX:AGR) announced today that it has entered into a bought deal private placement financing agreement to sell 14,285,800 units of the Company (the “Units”) at a price of CAD$0.35 per Unit for gross proceeds of approximately CAD$5.0 million (the “Offering”).
Each Unit will consist of one common share (a “Common Share”) in the Company and one-half of one common share purchase warrant (each whole warrant, a “Warrant” and collectively the “Warrants”). Each Warrant will entitle the holder thereof to acquire one Common Share at a price of CAD$0.60, for a period of 36 months from the Closing Date (as defined below).
The Offering will be conducted by a syndicate of underwriters co-led by Echelon Wealth Partners Inc. and PI Financial Corporation, and including Mackie Research Capital, and Jett Capital Advisors (collectively, the “Underwriters”). Aguia has granted the Underwriters an over-allotment option to purchase up to an additional 2,142,900 Units at the Offering price, exercisable for a period of 30 days after closing. If the over-allotment option is exercised in full, the gross proceeds from the Offering will be approximately CAD$5.75 million. The Company has agreed to pay the Underwriters a cash commission equal to 6.5% of the gross proceeds of the Offering, including proceeds received from the exercise of the Over-Allotment Option.